Hong Kong’s stock exchange is to publish final rules next week that will allow for ‘innovative’ companies ranging from biotechnology businesses to technology giants to list on the venue.
Hong Kong Exchanges and Clearing will unveil its new listing regime on Tuesday, following weeks of consultation with market participants, including banks, lawyers and investors, the stock exchange confirmed.
The new rules are expected to enable biotech firms that have yet to generate a revenue to list on the exchange for the first time. The rules are also set to permit companies deemed ‘innovative’ to list with dual-class share structures, which give founders of companies greater voting rights over ordinary shareholders.